This section explores the settings for the Accounts Receivables processes.

This option allows adding, editing and deleting payment methods according to your company requirements. 

To add a new method:

To Edit a Payment Method

Please read  Open credits on Aging and Statements for more information.

By enabling this setting, the system will allow users to perform the Non-Sufficient Fund process, the payment will be voided and the customer will be invoiced (if you choose). To do so, please follow the next steps:

By enabling this setting you will be able to charge your customers when they are in arrears during a certain period of time. You can specify the arrears period on which you will start to charge your customers, the percentage to be charged, and the date to apply the charge. Finance Charges can be both manually or automatically generated. Notice this option can be configured per location in the case of Multilocation Companies (read below for more information or read Finance Charges for more information about the process).

 This setting should only be updated the first day of the month in order to avoid a double charge.

Finance Charges in Multilocation Companies

This option must be activated per company by going to Setup>>Settings>>Finance Charges. Once enabled, you can set up how the Finance Charges should be processed. There are two options to generate the Finance Charges:

By customer: By selecting this option, a single Finance Charge invoice will be generated for all the open invoices associated to each customer, according to the Finance Charges configuration, regardless of the location. If you select this option, the setup will apply to the whole company. Please read Finance Charges for further information.

By Location: A Finance Charge invoice will be generated for each location with open invoices associated to the customer. A location filter will be available in the Finance Charge Processing window. If you select this option, you must set up the finance charges for each location as explained below.

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Finance Charges per Location

The Finance Charges can be set up on a per location basis. To do that, go to Setup>> Settings, select the option Locations and choose the location you want to apply finance charges for. Remember that the system allows you to made exceptions per customer in the Customer Account "Advanced" Setup. Since a customer can be associated with several locations the system will take by default the charge set up in the main location of the customer for applying the charge. For further information please read Finance Charge Percentage.

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Some locations could have the Finance Charges Generation automatic and others have it manual. If at least one location has the manual generation enabled, the Generate Finance Charges button will appear on the Aging/Statements screen. Once you click on it, you must select the location and the system will display all the customers who are in arrears for the selected period and location.

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This setting allows configuring different payment terms for invoicing customers and even applying discounts based on them. In order to add or edit a payment term, please follow the next steps: